🐄 CoW Protocol Clarifies Rollout Timeline: Hidden Bids Live, UCP Sunset Delayed

**CoW Protocol has extended its trading infrastructure to tokenized equities on BNB Chain**, partnering with xStocks to enable 24/5 trading of stocks and ETFs. **Key features:** - Network of competing solvers finds optimal prices across exchanges - MEV (Maximal Extractable Value) protection for all trades - Access to dozens of tokenized stocks and ETFs through xChange - Market-deep liquidity available around the clock **How it works:** CoW Protocol routes trades through multiple solvers that compete to deliver the best execution, protecting users from front-running and other MEV attacks common on decentralized exchanges. This expansion brings traditional capital markets onchain with the same execution quality users expect from CoW's existing DeFi trading infrastructure.

CoW Swap has processed $200 billion in trading volume since its launch five years ago. The decentralized exchange, which focuses on fair trading by finding the lowest prices across multiple exchanges and protecting users from MEV (maximal extractable value), has grown steadily from $115 billion in volume just nine months ago. The platform aggregates prices from exchanges like Uniswap and 1inch while offering MEV protection that traditional aggregators don't provide.

CoW Protocol has removed the **Uniform Clearing Price (UCP)** mechanism from its winner selection process. **What changed:** - UCP was a legacy constraint system that added complexity without providing additional value to users - Removing it simplifies solver logic and allows the best solutions to win more efficiently - The change enables more straightforward competition among solvers **Implementation note:** While hidden bids in solver competition are already live, the UCP removal is scheduled to be completed later this quarter.

CoW Protocol has rolled out a significant change to its solver auction mechanism. Solvers can no longer view competing bids during active auctions - they now submit bids blindly until the deadline expires. **Key changes:** - Mid-auction bid visibility removed - Solvers compete independently without seeing rivals' offers - Designed to improve execution quality for users **Important clarification:** While the hidden bidding system is now live, the previously mentioned UCP (Uniform Clearing Price) removal has not yet been implemented. The UCP sunset is scheduled for later this quarter. This update aims to foster more competitive pricing by preventing solvers from strategically adjusting bids based on competitors' positions.